Green Home Systems, a leader in the retrofit installation of energy efficiency measures for domestic properties, has announced a 208% rise in turnover, from £6m to £17m, during its latest financial year (ending 30th June 2024).
The Ayrshire-based business, which was founded in 2014 by brothers Peter and Steven Easton, installs insulation, air source heat pumps, solar photovoltaic systems and battery storage in homes across Scotland. Through its continued work, Green Home Systems is committed to ending fuel poverty in the country.
Since 2022, the company has increased the volume of work that it completes under the Energy Company Obligation (ECO4) Scheme – a government initiative designed to tackle fuel poverty and help reduce carbon emissions, which now represents 70% of the company’s overall turnover. Pivotal to this success has been the development of partnerships across 19 local authority areas throughout Scotland, as well as its continued growth in the Able to Pay private market, with revenue in this stream increasing by 40% compared to the previous year.
Further revenue diversification was successfully delivered through the completion of major social housing retrofit contracts. Since June 2024, the company’s social housing retrofit division has secured further significant contracts , which will see Green Home Systems improve the energy efficiency of more than 600 properties throughout Scotland for the financial year ending June 2025.
Commenting on the company’s recent successes, Green Home systems managing director, Alastair Macphie, said, “We are very pleased with these results and the significant growth achieved across the company. This demonstrates the continued success of our strategy to strengthen our market leading position as a reliable and trusted installer of energy efficiency measures across an increasingly diversified business model.”
Green Home Systems chairman, Steven Easton, added, “Last year we celebrated our ten-year anniversary. These results demonstrate the strength of the business after a decade of operations, proving the ability of our independent senior management team to deliver upon our diversification strategy and partnership approach. As the market opportunity continues to expand, our ambition is to be the partner of choice for homeowners and landlords seeking to improve energy efficiency in their properties. Our mission is to play a significant role in reducing fuel poverty and preparing domestic properties across the UK for net zero.”
In addition achieving strong commercial growth over the past financial year, Green Home Systems also made a significant number of new appointments, nearly tripling its team size from 33 to 91. For more information about the company’s vital work tacking UK fuel poverty, visit: www.greenhomesystems.co.uk/.